Price of oil remains above $50

Oil prices ended a rough November that saw prices fall 22 percent, the worst month in 10 years.

Oil prices ended a rough November that saw prices fall 22 percent, the worst month in 10 years.

Photo: James Durbin

Photo: James Durbin

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Oil prices ended a rough November that saw prices fall 22 percent, the worst month in 10 years.

Oil prices ended a rough November that saw prices fall 22 percent, the worst month in 10 years.

Photo: James Durbin

Price of oil remains above $50

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Oil prices ended a rough November that saw prices fall 22 percent, the worst month in 10 years. After briefly falling below $50 a barrel, West Texas Intermediate futures closed Friday at $50.93 a barrel, down 52 cents. The posted price closed the week at $47.50 a barrel, down 25 cents.

Prices have fallen more than $26 a barrel since reaching a four-year high in early October. Indications that oil supplies are plentiful, along with concerns that the global economy is slowing and could hurt demand have weighed on prices in the last two months.